Base

🧵 (1/5) On the question of competition between L3 protocols on @base 

Onchain has no reason and no point to compete with Degen Chain. The L3 concept, in our understanding, involves a simple and fast chain that satisfies a specific set of needs 👇

Building /onchaincoin | 2D onchain woman | BD at /morpheus | Building an infra for IDOs to be backed by social capital at /frensly

(4/5) which opens up the opportunity for projects to create their own chains to preserve value within their ecosystems.

It makes no sense to talk about competition between Onchain and Degen, since these are different chains with their own purpose, both contributing to the base and ethereum ecosystem.

It's still unclear what the purpose of an Onchain L3 is. There's not even an established product that requires an L3 yet.

An L3 isn't just an on-a-whim decision. There should be some issue that can't be solved with L2 which L3 will solve, otherwise you're just making arbitrary problems to overcome.

father | artist | dev | crypto class of 2014 | DeFi enthusiast

You can't move a product to L3 once it's established tho, It'd have to be a copy or something new

dreaming higher ↑ /basedstudio ⋅ exploring new frontiers in crypto, ai, states

I haven't seen that in any of of the apps I've used and interacted with so far

Cross chain tokens except stablecoins and wrapped ETH etc., they feel like different tokens

Almost all dapps work across chains. The ones that don't can, they just haven't implemented it.

Just because tokens "feel different" to you, doesn't mean they're different. They're still subject to the same issuance and rules, and the liquidity is provisioned across the chains they're on.

For a small project, creating an entire L3 around it creates way more liquidity issues.

Cross chain doesn't cost more to operate unless you have to build the infrastructure around it (like onchain L3 would have to).
Adding a chain is usually as easy as adding a new RPC, since EVM is EVM regardless of chain.

Yes so if it's a small project, making it cross chain creates liquidity issues - it's more expensive for it to operate because of that and requires extra coding, testing etc. right?